Adani Green Energy slips ~4% as CEO resigns

31 Dec 2024 , 02:31 PM

Adani Green Energy (AGEL) shares slumped as much as 4% to ₹1,030.10 on the NSE today after the business stated that Amit Singh, its CEO, will step down and take up a new role in the Adani Group in March 2025.

Additionally, Ashish Khanna, currently the CEO of the Adani Group’s International Energy Business, will be named as the next CEO of AGEL on April 1, 2025.

It was also announced that Amit Singh will be shifting to a new leadership role in the Adani Group after his remaining time as CEO of Adani Green Energy.

AGEL is India’s largest and one of the world’s leading renewable energy firms, driving the clean energy transformation. The firm creates, owns, and manages utility-scale grid-connected solar, wind, hybrid, and hydro-pumped storage renewable energy projects. 

AGEL shares have been on a downward trend for some time now, losing 34.4% in the last year and year to date. Even in the short run, the stock has fallen 41.4% in the last six months and 45% in the last three months, according to BSE data.

At around 11.05 AM, Adani Green Energy was trading 3.65% lower at ₹1,036.40 per piece, against the previous close of ₹1,075.65 on NSE. The counter touched an intraday high and low of ₹1,070.95, and ₹1,029, respectively.

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